Member Info for seanhunter

Jeez.. is that genuine? I could have written that. Ouch.

Fortissimo, of course what you say makes sense but it still doesn't hide the fact that we are in a very bad predicament here, one that either is resolved by a) a takeover or b) the BoD coming up with a cunning plan for moving forward.

NB: Simply ensuring that they stay in well paid jobs for the foreseeable future is not my idea of a cunning plan.

Quady you are quite the Pollyanna - you can see the good in everything, which to be fair is not a bad quality in a person.

But even you have to see the reality here - if we are finding hard just to raise the basic cash to survive for the next few months, how the hell are we going to raise the enormous amounts required to even start going into production?

There is no point putting on a performance if no one in the audience believes it.

We have painted ourselves into a very dangerous corner here - talking big but acting like a cornered mouse.

In any other share I've been invested in, I would regard our position today as the clear beginning of a finance death spiral. Of course, we have the reality of the vast resource we own to act as a theoretical NAV that will prevent too much damage, but what are we offering the market other than a string of begging bowls stretching out into the future, each one weakening the share price which in turn weakens our position.

We've been thumbing our nose at the big boys for years - don't you think they will be happy now to see us dig a money pit for ourselves and then "rescue" us by taking the whole thing off our hands in a fire sale once we get in too deep?

Mathersfinger, you do that most of us are here to make money from our investment and not to go on a magical, decades long journey through the junior miner cycle?

We were at 26p in 2017 and we are at 26p today. That's despite all the new discoveries and proving up of this mammoth, world class resource since then.

And you accuse of of "bleating"?

An unkind person would suspect you were a shill of some sort. Not I of course. But come on, we are surely entitled to our opinions and there isn't much to be positive about this morning. Or this time next year.

There's only 2 words that matter in that RNS: "equity raise".

All the other stuff is wishful nonsense and smoke and mirrors , because right now, at this stage, if they had ANY realistic alternatives in place to an equity raise they would have waited till they were successfully pursuing them and wouldn't have released this nothing burger of an RNS at all.

Pretty clear from here on in, any increase in the MCAP will be matched by an increase in new shares printed. Once again, the small retail investor with a static holding finds himself at the bottom of an escalator, wanting to climb it, and the DOWN button is about to be switched on .

I'm finally realising why I keep hearing Kate Bush's "Running Up That Hill" on the radio this summer. It's our theme tune.

You turn if you want to.... the Quady's not for turning.

How are they raising funds Quady? You say they are "proceeding". How are they proceeding? I'd like to know, especially if it doesn't involve taking on massive debt or diluting our shares in any way. Is it a GoFundMe page where everyone who donates gets a special mention on the SOLG website? Go on, cheer me up.

There is still the faintest glimmer of hope of a takeover bid before we are diluted into the stone age. Good luck everyone.

No need to leave Ray, we all know why you started posting here in the first place but that's ancient history now. When you're not winding certain people up you actually make sensible contributions to the debate, so stick around mate.

Forissimi why do we never ever raise cash when the sp us up at 40p? The next placing is coming, and it's going to sting.

Deramping? Give me a break. We need a bid, it's as simple as that.

Here we g gain... back down to the 19p level.

Then in September the spending and dilution starts.

How much does it cost even to build a local road?

10p incoming.

Don't leave MR, you're a decent lad. Just stick to the truth and stop winding people up and you'll be fine.

Doesn't need to be a meteor strike Quady - we are deep in a fragile third world country and a general workers strike could bring down the government and usher in years of chaos.

We have been very lucky, the last 10 years or so have been relatively stable. But given the way the whole world is falling apart at the seams - from a senile US president to rampant inflation and an oil crisis - I certainly wouldn't want to push that luck for another 20 years.

What's your preference by the way - chestnut or parsley and sage?

"The company has said so."

Quady you keep saying this like you are quoting the bible.

No Plan Survives First Contact With the Enemy.

That's what you need to remember. And we have many possible enemies out there - more needless Covid panic, wars, revolutions, riots, diseases, earthquakes, environmentalists, logistics, left wing governments, accidents, overspeds and overruns... take your pick.

You are a turkey looking forward to Christmas. You are going to end up stuffed.

Why not £5 a share? Who is the fantasist now?

You have absolutely no concept of how it works do you? If say BHP were willing to buy, they aren't thinking about you and your shares, they are thinking of the price tag.

Say £2billion for the lot right now. That works out at just under £1 a share.

Say £2billion for the lot next year, after a billion new shares have been printed. That's about 66p per share.

The more dilution, the more that headline figure gets divided up into smaller slices. And there is going to be dilution, believe me.

Even in 20 years time you won't get £2 a share. If the MCAP is £50billion by then you can be assured there will be 100 billion shares in circulation and you will get 50p.

You will never get £2 a share.

You keep saying you "have been doing this for 40 years". Doing what? Making a fool of yourself? How did you manage that before the Internet? By writing letters in green ink?

There is no scenario down the production route where current small holders, not protected by options and bonuses and fat salaries, don't get swamped and then gradually erased by dilution or debt or joint ventures which create new finance structures. You are a turkey voting for Christmas.

It's kind of strange to see it return as such a big issue but inflation certainly is a factor when deciding to hold these days. Sp was 25p in 2017 and 25p today. Inflation now running at 9% or so eating away at a value that only looks like it's standing still.

Also, if it becomes clear there is ko bid incoming this year, and the spending and dilution taps are turned on there's increasing danger we become the target of some of the more vicious shorters out there.

If the sp is going to drift from here on in, its hardly likely to be upwards. Apart from Quady I doubt that anyone is really looking forward to the first 5 years or so of the journey into production.

Quady, there are some very loyal, very long term holders on here but I doubt even they believe everything the company says.

There has been wholesale change at the top. I don't know these people, I don't trust them, I don't believe them. I will, however judge them on their actions and results.

$4 million went missing. i don't condemn or judge. But you believe everything the company says.

Targets missed, results delayed, no shareholder value created in 5 years. But you believe everything the company says.

I think I hear your doorbell ringing mate - go answer it, it's the wallet inspectors.

"Seanhunter dilution will be minimal. I don't know how many times the company has to say it before you listen."

And lockdown will only be for 14 days - to flatten the curve.

In my time with this share, the company have DOUBLED the number of shares in issue.

Dilution is picking the pockets of your existing investors. You think they are going to announce it beforehand?

You seem to have a death wish for your investment here Quady - you seem to actually want them to do the worst possible thing for you as a retail investor here at this point in time.

When the big shows starts, you will be in the cheap seats, and the years go on those seats will be cheaper and cheaper and pushed further back from the stage. certainly, you can keep on buying in and buying in to keep up the value of your investment and the possible eventual return - but as an investor with shares today, who wants to sit on them and watch that set investment grow, you are endorsing a course of disaster.

Minimal dilution? What the eff are the alternatives that will not damage the share price anyway? Dilution is the easiest way. As every Government now knows, you just print more money. Of course it devalues the money that was there before, but it solves the Government's immediate problems.

Printing billions of extra shares, new debentures, loans, financial packages , joint ventures, leveraging out and out into the future - take your pick and defend them all you like. The market will see it for what it is - a catastrophic level of risk against the amazing possibility of pulling off successfully getting into production.

There are some lean, lean years ahead of us mate before we see the Promised Land.

Not much to look forward to when we were sitting at 25p in 2017 and are still sitting at 25p today - 5 locust years behind us and nothing but blood, sweat and tears ahead.

Every time you try to defend this, you sound more and more like Comical Ali.

"It's clear you have no idea how building Alpala will increase the share price not decrease it,"

In the end Quady yes, it will certainly increase the MCAP. Probably not the share price though as the dilution involved is going to be immense.

But until production is actually at an advance stage and showing dividends, it is nothing but a gamble, a risk and a vast expense. The lean years will be long and painful.

I won't be posting on this board much if ever again once the dilution tap is turned on - I'll be a trader and no more, looking for daily movement, with no real right to give an opinion on where we are heading or how we are performing. But until then, I'll be here to warn you.